Banks will have to import gold and store it in a customs-bonded warehouse, and then supply to exporters without customs clearance; no relief for bullion refineries, however Banks and jewellery exporters have a reason to smile after the GST Council did some tweaking during its meeting on Saturday. The council proposed that supply of warehouse […]
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]]>The Ministry of Finance, Government of India has issued a further clarification that sale of old jewellery by an individual to a jeweller will not make the latter liable to pay tax under the GST reverse charge mechanism. We reproduce below the statement issued by the Press Information Bureau on July 13: Further clarification on […]
The post Govt Issues Clarification: No GST on Resale of Old Gold Jewellery by Individuals appeared first on The Jewelry Magazine.
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